Saad Ullah
Ethereum's recent drop has spooked the market, but seasoned traders are seeing déjà vu. The current ETH chart looks almost identical to Bitcoin's setup in 2024—right before it reversed and surged to record highs above $100,000.
The Pattern Playing Out Again
As trader Gordon notes, the same fear and disbelief that surrounded Bitcoin back then might now be playing out with Ethereum. If history repeats, this could be the shakeout before the next major move up.
The side-by-side comparison tells the story. Bitcoin in 2024 crashed into what traders called the "Yen Carry Trade" demand zone, then rocketed to new all-time highs. Ethereum's current "Tariff Crash" shows the same descending structure—a deep dive into support around $3,600–$3,700, with early signs it's stabilizing. Both cases reflect macro-driven liquidation events that washed out leveraged positions before liquidity rushed back in. The technical similarities are striking: accumulation zones at similar levels, exhaustion patterns on RSI, and volume suggesting sellers are running out of steam.
When Fear Turns Into Fuel
During Bitcoin's 2024 drop, everyone thought the bull run was dead. Sound familiar? Yet BTC's bounce from those summer lows caught bears off guard and triggered a powerful recovery. Ethereum seems to be hitting that same emotional wall right now. Many are calling the end of ETH's cycle, but this could actually be the setup for what traders call a "disbelief rally"—when price starts climbing while sentiment stays gloomy. This rhythm of fear, denial, disbelief, and eventual acceptance has played out in every major crypto cycle. The crowd is rarely right at turning points.
Both crashes came from macro shocks—the Yen Carry Trade unwinding hit Bitcoin, while recent tariff concerns and capital rotation pressured Ethereum. But the technical setup looks solid. Bitcoin's recovery started exactly where Ethereum sits now: inside a long-term accumulation zone with institutional money still flowing into ETH funds. Key support is holding around $3,600, and a clean break above $4,200–$4,400 would likely confirm the next bullish phase. If ETH follows Bitcoin's playbook, this consolidation could be the final shakeout before the rally. Historical patterns show Ethereum often lags Bitcoin by one cycle before making its strongest move.
Saad Ullah
